Cipher (CIFR) Surges 18% as JPMorgan Turns Bullish

Core Viewpoint - Cipher Mining Inc. (NASDAQ:CIFR) has shown significant stock performance, rebounding 18.09% to close at $16.71, following a bullish coverage from JPMorgan, which upgraded its price target to $18, indicating a 7.7% upside potential from the latest closing price [1][2]. Group 1: Stock Performance - Cipher Mining's stock surged 18.09% on Monday, recovering from two days of losses [1]. - The stock has declined approximately 45% from recent highs, presenting a potential entry point for investors [2]. Group 2: Business Developments - Cipher Mining secured a $5.5 billion, 15-year high-performance computing lease agreement with Amazon Web Services (AWS) for 300 MW of computing capacity, set to begin in 2026 [3][4]. - The capacity delivery will occur in two phases, with the lease contract starting in August 2026 [4]. Group 3: Financial Performance - Cipher Mining reported a significant improvement in earnings, with net loss narrowing by 96% to $3.28 million from $86.75 million year-on-year [5]. - Operating loss also decreased by 59% to $37.6 million from $91.4 million in the same period last year [5].